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Hungary

Capital Budapest
Area Sq Km 93 030
Area Sq Miles 35 919
Population 10 116 000
Languages Hungarian
Religions Protestant, Roman, Catholic
Currency Forint
National Day

Hungary

Republic of Hungary
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Economy Overview
Hungary is poor in natural resources other than bauxite, natural gas and some oil. For this reason, it relies especially heavily on foreign trade, which accounts for half of its GDP. The country has a fairly well developed industrial economy concentrated in chemicals, plastics, pharmaceuticals, fertilisers, computers and telecommunications, mining, construction and aluminium (from bauxite deposits). It has also traditionally been an exporter of agricultural produce, particularly fruit and vegetables, maize and wheat, sugar beet, potatoes and livestock. In the 1990s, it eschewed the Polish-style 'big bang' road to capitalism and opted for a more gradual transition. Price controls were removed, and a programme of privatisation was implemented, starting with the retail and property sectors. By 1995, small business privatisation was more or less complete, while sales of the larger state-owned concerns proceeded apace. Current estimates put 85 per cent of the economy under private ownership.
Government
Legislative power is held by the 386-seat national assembly, the Orszaggyhles, which is elected for four years. (176 members come from single seat constituencies; 152 by proportional representation in multi-seat constituencies; and 58 members by proportional representation on a national basis.) The Council of Ministers, the highest executive organ, is elected by the assembly on the advice of the president, who is also elected by the national assembly for a four-year term, and may serve two terms. In April 1995, a 53-member National Autonomous Authority of the Romany Minority was ratified, with the power to administer funds disbursed by the central Government.

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